White House considering San Francisco Fed President John Williams for Fed's No. 2 job

B. Riley FBR Chief Market Strategist Art Hogan on the Federal Reserve's decision to raise interest rates and their outlook for the economy.

The White House is considering John Williams, the president of the Federal Reserve Bank of San Francisco, as a candidate to serve as the vice chairman of Federal Reserve Board in Washington, according to people familiar with the matter.

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Mr. Williams succeeded Fed Chairwoman Janet Yellen as the San Francisco Fed leader in 2011, after Ms. Yellen was tapped by President Barack Obama to serve as the Fed's vice chairwoman in 2010. Mr. Williams previously served as the bank's research director, reporting to Ms. Yellen, and would fit the Trump administration's interest in filling the vice chairman post with someone who is a widely respected expert in monetary economics.

Mr. Williams joined the San Francisco Fed in 2002 and previously served as a senior economist for the Fed board in Washington, joining the central bank in 1994.

A spokesman for the San Francisco Fed declined to comment.

The White House has interviewed several other economists for the position, and it isn't clear whether there is a front-runner or when a nominee will be named. Other candidates have included Richard Clarida, a managing director at money manager Pimco; Lawrence Lindsey, a former Fed official who later served as a top economic adviser to President George W. Bush; and Mohamed El-Erian, the former chief executive of Pimco.